Rwanda discusses 17.2% inflation with IMF in Bangkok — The Rio Times

National Bank of Rwanda Governor Soraya Hakuziyaremye and representatives of the Ministry of Finance and Economic Planning held talks in Bangkok, Thailand, on October 12 with Zeyne Zeidane, director of the International Monetary Fund’s African Department. The meeting took place amid an acceleration of annual inflation in Rwanda to 17.2% in September, The Rio Times reports.

Inflation exceeds central bank target

According to the National Institute of Statistics of Rwanda, annual inflation stood at 15.7% in August. The September figure was more than three times higher than the National Bank of Rwanda’s medium-term target of 5%.

Following its meeting on August 26, the central bank raised its key rate by 0.5 percentage points, from 8.25% to 8.75%. The rate increase is intended to make loans more expensive and curb consumer demand and price pressures.

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IMF financing program

The talks took place on the first day of the IMF and World Bank annual meetings, which were held in Bangkok from October 12 to 18. According to Taarifa Rwanda, the sides discussed the resilience of the economy, inflationary pressures and macroeconomic stability priorities.

In June 2026, the IMF approved a 38-month program for Rwanda under the Extended Credit Facility. In early October, fund staff reached an agreement with the country’s authorities on the first review of the program. Once it is approved by the IMF Executive Board, Rwanda will be able to receive about $35.7 million.

The IMF also said that Rwanda’s economy grew by 9.7% in the first half of 2026, while full-year growth is projected at 7.8%. Because inflation exceeded the range agreed under the program, the fund’s Executive Board must separately consider the authorities’ response to rising prices.